Baku, Azerbaijan, Dec. 28
By Azad Hasanli – Trend:
The Supervisory Board of Russia’s VTB Bank has decided to increase its equity share in the bank’s subsidiary in Azerbaijan to 99.9 percent, according to information published on the website of Russia's Corporate Information Disclosure Center (E-disclosure.ru).
The decision was approved Dec. 27 at a meeting of the Supervisory Board.
Previously, another bank belonging to the VTB Group, VTB24, bought 48.99 percent of shares from AtaHolding. Thus, the share capital of the bank was distributed between VTB Bank (51 percent), VTB24 (48.99 percent) and one individual (0.1 percent).
In addition, it was decided to increase the authorized capital of VTB Bank (Azerbaijan) by 265 million manats through the placement of additional ordinary registered shares. A total of 1.325 billion shares will be issued, and the cost of each share will be 0.2 manats.
Presently, the authorized capital of VTB Bank (Azerbaijan) is 50.815 million manats.
VTB Bank (Azerbaijan) has been operating in the country since 2009.
(1.7001 manats = 1 USD on Dec. 28)